John Taylor To Become Head Of Federal Reserve

Republican senators are looking to make John Taylor head of the U.S. Federal Reserve. All of the chit-chatter is making U.S. bond yields rise as gold remains steady after a 2-1/2 week low.

According to Commerzbank analysts, if President Trump chooses to make John Taylor the head of the Federal Reserve, then gold will drop fast.

The current market was pricing gold at a particular rate increase for December and expects another hike sometime in 2018. However, The Fed has placed three rate hikes for 2018. If John Taylor does come on board, the hikes may occur sooner than first thought.

Though those statistics have been able to keep gold prices the same, there have been some geopolitical risks that have made bullion lower. There has been plenty of missile talk lately, and a senior diplomat in North Korea says that people should take the foreign minister’s words more literal.

Back in September, Ri Yong Ho, who is the North Korean Minister of Foreign Affairs, said that Pyongyang is considering sending the most powerful detonation of a hydrogen bombs over the pacific ocean. His words come after the continuous rising of tensions with U.S.

Ryan McKay, a commodity strategist from Toronto, says that he doesn’t believe news from North Korea would make gold rise. Maybe if the headlines actually led to conflict, then investors would see change.

Gold prices in the U.S. were up a mere 0.02 percent, leaving it at $1,276.61 an ounce on Wednesday. Gold futures for the U.S for December went up 70 cents making it $1,279 an ounce. Prices for bullion were just above the 100-day moving average at $1,275.

However, the dollar weakened as the euro went up after a European Central Bank meeting. With the dollar being weak, it makes gold in the U.S. cheaper for investors of other currencies.

In other precious metal news, silver dropped 0.06 percent, coming in at $16.93 an ounce. Platinum came in 0.22 percent lower at $917.99, an ounce and palladium have gone down 0.3 percent at $959.22 per ounce.

head of the U.S. Federal Reserve. All of the chit-chatter is making U.S. bond yields rise as gold remains steady after a 2-1/2 week low.

According to Commerzbank analysts, if President Trump chooses to make Taylor the head of the Federal Reserve, then gold will drop fast.

The current market was pricing gold at a particular rate increase for December and expects another hike sometime in 2018. However, The Fed has placed three rate hikes for 2018. If Taylor does come on board, the hikes may occur sooner than first thought.

Though those statistics have been able to keep gold prices the same, there have been some geopolitical risks that have made bullion lower. There has been plenty of missile talk lately, ad a senior diplomat in North Korea says that people should take the foreign minister’s words more literal.

Back in September, Ri Yong Ho, who is the North Korean Minister of Foreign Affairs, said that Pyongyang is considering sending the most powerful detonation of a hydrogen bomb over the pacific ocean. His words come after the continuous rising of tensions with US.

John Taylor Is A Strong Candidate For Head Of U.S. Federal Reserve

Ryan McKay, a commodity strategist from Toronto, says that he doesn’t believe news from North Korea would make gold rise. Maybe if the headlines actually led to conflict, then investors would see change.

Gold prices in the US were up a mere 0.02 percent, leaving it at $1,276.61 an ounce on Wednesday. Gold futures for the U.S for December went up 70 cents making it $1,279 an ounce. Prices for bullion were just above the 100-day moving average at $1,275.
However, the dollar weekend as the euro went up after a European Central Bank meeting. With the dollar being weak, it makes gold in the U.S. cheaper for investors of other currencies.

Silver dropped 0.06 percent, coming in at $16.93 an ounce. Platinum came in 0.22 percent lower at $917.99, an ounce and palladium have gone down 0.3 percent at $959.22 per ounce.